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Chinese Stocks in the U.S. Surge as Delisting Worries Ease

  • China weighs giving U.S. full access to audits of most firms
  • Didi rises 28%, while Baidu and gain more than 2%
Alibaba headquarters in Hangzhou, China.

Alibaba headquarters in Hangzhou, China.

Photographer: Qilai Shen/Bloomberg
Updated on

U.S.-listed Chinese stocks rallied on Friday after a Bloomberg News report that Beijing is preparing to give U.S. regulators full access to auditing reports for a majority of the 200-plus companies listed in New York as soon as mid-this year.

Didi Global Inc. led the advance in American depository receipts, rising 13%. E-commerce giant Alibaba Group Holding Ltd. climbed 1.3%, while Inc. gained 2.1% and Baidu Inc. jumped 6.6%. The Nasdaq Golden Dragon China Index rose 4.7%, just a day after locking in its worst start to a year since 2008.